For Sale
$924,940

260 Rdg Rd Portage, WI 53901

1-Story, 6,000 SF Office Building, 100% Occupied

Overview

Added:
Dec 11, 2024
Days on market:
132
This exceptional investment opportunity presents a 6,000-square-foot, single-story Class C office building located at 260 E Ridge Rd, Portage, WI 53901. Built in 1995 and renovated in 2000, the property sits on a 1.05-acre lot and boasts ample parking with 65 spaces. Currently 100% occupied with a diverse tenancy including various Wisconsin state agencies and some non-state affiliated tenants, the building generates a strong net operating income (NOI) of $93,137, representing a 10.07% capitalization rate. The asking price is $924,940, translating to $154.16 per square foot. Leases are gross, structured with 5-year terms and options, and include escalator clauses. The portfolio's average lease term to maturity (including options) is 26 months, excluding 10 leases currently in the renewal process. This property is well-suited for 1031 exchange investors and offers the option of professional property management. The property's Assessed Property Number (APN) is 11271-3143. This is a rare opportunity to acquire a stable, income-producing asset in a desirable location.

Highlights

  • Excellent investment opportunity: 6,000 SF Class C office building in Portage, WI, generating a $93,137 NOI and a 10.07% cap rate.
  • Gross leases with 5-year terms, options, and escalator clauses.
  • Professional property management available.
  • Tenants include diverse mix of Wisconsin state agencies and other businesses.
  • Leases include escalator clauses for future rent growth.
  • 1031 exchange eligible.

Property Details for 260 Rdg Rd

Property type
Office properties, Government properties
Square Feet
6,000 SF
Class
C
Year Built/Renovated
1995/2000
Stories
1
Lot Size (sq. ft)
45,738 SF

Location Insight

City
Portage
County
Columbia
State
Wisconsin
Latitude
43.5676083
Longitude
-89.464134

FAQs

What type of property is this?
Office property - 1-Story, 6,000 SF Office Building, 100% Occupied
Where is the office property located?
The property is located at 260 Rdg Rd Portage, WI.
What is the asking price?
The asking price for this property is $924,940.
What are key features of this property?
This property features: Excellent investment opportunity: 6,000 SF Class C office building in Portage, WI, generating a $93,137 NOI and a 10.07% cap rate.; Gross leases with 5-year terms, options, and escalator clauses.; Professional property management available.
How can I contact the broker?
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260 Rdg Rd
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